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Planning staff previews Terra Mesa metropolitan district service plan; $15 million debt cap proposed
Summary
Planning staff presented a service plan for the Terra Mesa Metropolitan District (Peach Ranch development) proposing up to $15 million in debt authorization, a maximum 50-mill debt levy and a 20-mill O&M levy to fund and maintain public improvements; staff said the resolution will be scheduled for July 28 consent consideration.
City planning staff presented the Terra Mesa Metropolitan District service plan at the July 13 work session, describing a proposed financing structure to support the Peach Ranch development east of Powers Boulevard and Research Parkway.
The presenter summarized the district's proposed scope: a 42-acre development with approximately 155 residential lots, public rights-of-way and utilities. The service plan proposes a maximum debt authorization of $15,000,000 to finance public improvements; it lists a maximum allowable debt mill levy of 50 mills and a maximum operations and maintenance mill levy of 20 mills to fund ongoing maintenance of detention ponds, stormwater infrastructure and common areas that the district will own or maintain. "The district service plan and debt issuance will support groundbreaking and buildout of necessary public infrastructure," staff said.
Staff clarified that many service items do not require intergovernmental agreements because the Metro District would retain ownership and maintenance responsibilities for those improvements; when a feature is dedicated to the city (for example some roadways), it would become a public asset with a warranty period and later maintenance by the city. Planning staff said the item is scheduled to be proposed for the July 28 regular hearing for resolution on consent; following potential approval the district would need to file a petition in district court for formation and incurrence of debt.
Council questions covered IGAs, the difference between public versus district-owned assets, the role of the staff-level special-districts committee in review and whether the committee should record that it has "reviewed and has no concerns." Staff agreed to provide the planning review packet ahead of the July 28 hearing and to mark reviewer responses explicitly.
